Contract Win

RNS Number : 4596K

Capital Drilling Limited

11 April 2018

 

For Immediate Release

11 April 2018

Capital Drilling Limited

("Capital Drilling", the "Group" or the "Company")

Contract Win

Capital Drilling Limited (CAPD:LN), a leading drilling solutions company focused on the African markets, is pleased to announce that it has been successfully selected as preferred contractor for a three year contract with Resolute Mining Limited (Resolute) in Mali, West Africa.

Capital Drilling will provide surface drilling for Exploration and Resource Development at Resolute's projects and joint venture operations in Mali, incorporating the incumbent surface drilling activity at the Syama Gold Mine, where Capital Drilling currently operates three surface rigs.

The contract will commence 1 July 2018, replacing the existing short-term surface drilling contract, subject to the signing of the formal terms.

Capital Drilling commenced drilling operations for Resolute in Mali in 2016 and the company currently provides a range of drilling services including exploration, delineation and underground drilling. The Group currently operates five rigs for Resolute at the Syama Gold Mine, with two underground rigs also operating under a three year contract.

Commenting on the contract win, Jamie Boyton, Executive Chairman said:

"We are pleased to announce the successful award of this contract and look forward to continuing our strong working relationship with Resolute on its Mali projects. This contract continues to build on the Group's portfolio of long-term contracts, growing our platform in key West African markets, a strategic growth focus for the Company. It also reinforces our reputation as a safe and professional service provider in the region".

For further information, please visit Capital Drilling's website www.capdrill.com or contact:

Capital Drilling Limited                                                                     [phone]

Jamie Boyton, Executive Chairman                                                [e-mail]

André Koekemoer, Chief Financial Officer

finnCap Ltd                                                                                          [phone]

Christopher Raggett, Corporate Finance

Emily Morris/Simon Johnson, Corporate Broking

Tamesis Partners LLP                                                                        [phone]

Charlie Bendon

Richard Greenfield

Buchanan                                                                                             [phone]

Bobby Morse                                                                                      [e-mail] 

Gemma Mostyn-Owen

About Capital Drilling

Capital Drilling provides specialised drilling services to mineral exploration and mining companies in emerging and developing markets, for exploration, development and production stage projects. The Company currently owns and operates a fleet of 93 drilling rigs with established operations in Botswana, Côte d'Ivoire, Egypt, Ethiopia, Kenya, Mali, Mauritania and Tanzania. The Group's corporate headquarters are in Mauritius.

 

END

 

 

CNTFKKDDNBKDFQD